INSTITUTE-SUPPORTED COURSES SOLVING BUSINESS CHALLENGES IN REAL-LIFE SETTINGS
CURRICULAR INITIATIVES The Institute’s research arm supports scholarship that advances the fields of entrepreneurship and innovation, and this research often manifests itself in novel, forward-thinking new courses, such as Corporate Innovation & the Design Experience, New Product Development, and Starting New Ventures. Research supported by the Institute also takes the shape of groundbreaking
ENTREPRENEURS TAKING ACTION Students interact with experienced entrepreneurs and learn from their suc-
initiatives, such as Darden’s i.Lab, a non-traditional, flat-classroom teaching environment that includes a design-build studio where students can transform their ideas into physical prototypes. A number of Darden’s new entrepreneurship and innovation courses are steeped in design and multidisciplinary thinking and are taught in Darden’s i.Lab.
cesses and failures as they
In 2010, an entrepreneurship concentration was launched as part of Darden’s
examine a diverse set of
MBA curriculum. The concentration lays the foundation for a deeper under-
management challenges
standing of corporate and entrepreneurial success, covering topics such as
faced at different stages of
how to create value not only through new products or services, but with novel
a company’s development.
technologies, business concepts, organizing structures, transaction/financing mechanisms, distribution channels, and market segmentation.
EXPERIENTIAL PROGRAMS THE TECHNOLOGY ACCELERATOR
The Center builds on Darden’s academic offerings with a range of experiencebased programs and initiatives, providing students the critical skills they need to create successful real-life businesses upon graduation.
Students master the process of adapting technology
The Center’s experiential programs include a business Incubator, numerous
to the needs of the market,
competitions (including support for national and global competitions), funded
creating an actionable
internships, workshops, boot camps, and mentorship opportunities.
strategy, and developing the skills necessary to launch a start-up.
The Center’s experiential programs enjoy a broad level of student participation and interest. In the summer of 2011, the Center hosted 12 companies in the Darden Business Incubator. To date, 46% of Incubator-launched or supported companies remain active enterprises after five years. The Center also sponsors three major competitions each academic year: the Darden Concept Competition, U.Va. Entrepreneurship Cup, and the Darden/U.Va. Business Plan Competition. In the fall of 2010, 139 concepts were submitted for the U.Va. Entrepreneurship Cup competition from six schools of the University. U.Va. received outside sponsorship from Third Security for $50,000 awarded to U.Va. Cup top winners. Overall, a total of $80,500 was awarded at the aforementioned competitions during the 2010-11 academic year.
22 | ANNUAL REPORT 2010-2011